27 feb 2012
New Delhi: Vijay Mallya-promoted United Spirits Ltd is considering to sell 49 per cent stake in its Glasgow based subsidiary Whyte & Mackay to pay off debt, according to a media report. According to the 'The Times', the move is a part of a drive to cut UB Group's USD 4 billion (2.5 billion pounds) debt.
Mallya told the daily that that USL, the spirits holding group that has debts of USD 1.68 billion, was considering sale of a 49 per cent stake in Whyte & Mackay, which was bought in 2007 for USD 1.2 billion.
Last fiscal, USL had posted a total income of Rs 6,422.72 crore with a net profit of Rs 403.04 crore. So far this fiscal, in the nine months period ended December 31, 2011 the company's total income stood at Rs 5,778.14 crore and net profit was at Rs 332.77 crore.
New Delhi: Vijay Mallya-promoted United Spirits Ltd is considering to sell 49 per cent stake in its Glasgow based subsidiary Whyte & Mackay to pay off debt, according to a media report. According to the 'The Times', the move is a part of a drive to cut UB Group's USD 4 billion (2.5 billion pounds) debt.
Mallya told the daily that that USL, the spirits holding group that has debts of USD 1.68 billion, was considering sale of a 49 per cent stake in Whyte & Mackay, which was bought in 2007 for USD 1.2 billion.
Last fiscal, USL had posted a total income of Rs 6,422.72 crore with a net profit of Rs 403.04 crore. So far this fiscal, in the nine months period ended December 31, 2011 the company's total income stood at Rs 5,778.14 crore and net profit was at Rs 332.77 crore.
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